ETHFI token increased nearly 3,000% in 10 days, reaching a new ATH
According to SpotOnChain, ETHFI has increased nearly 3,000% in less than two weeks, hitting a new ATH and showing no signs of a downturn.
According to Spot On Chain, an on-chain data analytics platform, ETHFI increased nearly 30% in just 24 hours, hitting a new all-time high (ATH).
Additionally, the platform highlights several important transactions in the ETHFI ecosystem. Where the top 4 holders withdrew 1.036 million ETHFI, equivalent to 5.4 million USD from Binance and KuCoin.
The owners withdrew their assets approximately 22 hours before Spot On Chain's post, with ETHFI trading at $5,208.
The analytics platform shared more details about the top holders, showing that four wallets were identified holding 12.2 million ETHFI, or $76.6 million, or 10.6% of the source circulating supply of this digital asset.
ETHFI is the governance token powering the Ether.fi network, a decentralized, non-custodial Ethereum staking protocol. This is one of the lesser known cryptocurrencies that has been performing well recently.
A staking protocol launched in mid-March, the token rose from its opening price of $0.23 to $6,438 in less than two weeks, an increase of nearly 3,000% as SpotOnChain wrote.
In particular, this token still shows no signs of stopping, witnessing a strong growth of more than 43.63% in 24 hours and trading at 6.82 USD this is also the new ATH level recorded at the time. Reply.
The Ethereum community is predicting huge numbers for the newly launched governance token. They consider Ether.fi is an ideal protocol that democratizes Ethereum's staking process, lowering barriers and allowing more users to participate in ETH staking.
However, cryptocurrency predictions are never certain because there are a number of factors that influence price development, so investors should consider before participating in this market.
